Commodities
Mexico to Halt Some Oil Exports, Squeezing Global Market
- Pemex to ship less oil in push to feed domestic refineries
- Mexico exports about 600,000 barrels a day of Maya crude oil
The Petroleos Mexicanos Miguel Hidalgo Refinery in Tula, Hidalgo, Mexico.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
Mexico’s state-controlled oil company plans to halt some crude exports over the next few months, a move that would cut supply from a tightening global market.
Petroleos Mexicanos, also called Pemex, canceled contracts to supply its flagship Maya crude oil to refiners in the US, Europe and Asia, according to people with knowledge of the situation, who asked not to be named because the information is private.